The transaction involved the transferal of Berliner Bank’s 1,140 members of staff and the entire branch network, with 60 locations, to Deutsche Bank.

A new management board has been formed for Berliner Bank. Oliver Bortz has been appointed chairman, with Frank Gilly responsible for private clients, and Joachim Plotho to be responsible, among other things, for credit risk management and various corporate center functions. Dr Christian Engell is also part of the management team and is in charge of business clients.